Morgan Stanley Bitcoin Trust (MSBT) Cost Basis
What did MSBT pay for its coins?
The average price MSBT paid for the Bitcoin it holds, set against Bitcoin's price.
What MSBT paid, and Bitcoin's price
The average price MSBT paid for the Bitcoin it still holds, beside Bitcoin's own price. The price line is worked out each day from the buy price and the Worth vs. paid figure, so it can sit a little off a price quoted elsewhere. Estimates. No fund publishes what it paid. This is worked out from the money going in and the price on the day it arrived, so treat it as close rather than exact.
Inspect and compare dates
Pick two dates to compare what MSBT had paid for Bitcoin with Bitcoin's price on each.
| Measure | Change | Relative change | ||
|---|---|---|---|---|
| Average buy price | $69,868.00 | $73,837.00 | +$3,969.00 | +5.7% |
| Bitcoin price | $78,329.00 | $84,388.00 | +$6,059.00 | +7.7% |
Right now
On average MSBT paid about $73,837 a coin for the Bitcoin it holds. At $84,385, Bitcoin is about 14% above that.
Is MSBT in profit?
As of Sep 23, 2026.
Coins in profit
Of the Bitcoin the fund holds, the share worth more today than it cost.
80% of the Bitcoin in MSBT is worth more today than it cost. Taken together, the fund is ahead on what it paid.
How much of this can we see?
We can see a buy price for 96% of the coins MSBT holds.
What has Bitcoin's price done lately?
Price now
Past week
Up
Past month
Up
Against 200-day average
Above
Over the past month a net $237 million went into MSBT, and Bitcoin's price rose 6.8%. Bitcoin is trading 19% above its average price for the past 200 days. Fund money is one part of what moves a price, so read those as two facts side by side rather than one causing the other.
Understanding
Morgan Stanley Bitcoin Trust (MSBT) Cost Basis
Where it stands today
Morgan Stanley Bitcoin Trust (MSBT) paid an average of about $73,837 a coin for the Bitcoin it holds as of .
At $84,385, Bitcoin's price was about 14% above that as of .
80% of the Bitcoin in MSBT was worth more than it cost as of .
Cost basis is the average price MSBT paid for the coins it holds. It works like your own average buy price: when Bitcoin's price is above it, the fund is ahead on paper, and when it is below, it is behind.
The Worth vs. paid tab divides Bitcoin's price by that average. Above 1.0 the coins are worth more than the fund paid for them, and below 1.0 they are worth less. It is the same comparison as the two lines on the Buy price tab, as one number.
Coins in profit counts the Bitcoin the fund holds that are worth more today than they cost, as a share of all of them.
The price line on the Buy price tab is worked out from the two figures the chart already has, so it can sit a little off the price quoted elsewhere for the same day.
The numbers
behind the chart
What does the current reading show?
Average buy price: the latest reading is $73,837, on . The highest reading since is $76,827 on ; the lowest is $69,796 on .
Bitcoin price: the latest reading is $84,388, on . The highest reading since is $86,595 on ; the lowest is $58,529 on .
Worth vs. paid: the latest reading is 1.14x, on . The highest reading since is 1.22x on ; the lowest is 0.81x on .
The average price MSBT paid for the Bitcoin it held on each day, the Worth vs. paid figure, and Bitcoin's price worked out from the two, which can sit a little off the price quoted above.
What are the latest, highest and lowest readings?
| Measure | Latest | Highest | Lowest |
|---|---|---|---|
| Average buy price | $73,837 | $76,827 | $69,796 |
| Bitcoin price | $84,388 | $86,595 | $58,529 |
| Worth vs. paid | 1.14x | 1.22x | 0.81x |
How do the readings compare with earlier dates?
| Reference date | Average buy price | Bitcoin price | Worth vs. paid |
|---|---|---|---|
| 1 month ago | $69,868 | $78,329 | 1.12x |
| 3 months ago | $73,135 | $62,654 | 0.86x |
What was the reading at each month’s end?
| Reading date | Average buy price | Bitcoin price | Worth vs. paid |
|---|---|---|---|
| $70,405 | $78,572 | 1.12x | |
| $70,390 | $62,823 | 0.89x | |
| $72,338 | $58,529 | 0.81x | |
| $76,781 | $73,372 | 0.96x | |
| $75,314 | $76,331 | 1.01x |
Source: The money going into and out of MSBT each trading day, and Bitcoin's price. No fund publishes what it paid. This is worked out from the money going in and the price on the day it arrived, so treat it as close rather than exact. Reading for .